Senior EU official hails China's carbon trading market

BRUSSELS, July 21 (Xinhua) -- A senior official of the European Commission has hailed China's national carbon emissions market after it started online trading last week.

Frans Timmermans, executive vice-president of the European Commission for the European Green Deal, on Friday tweeted: "Today I congratulated China on starting its national emission trading market."

"The @EU_Commission continues to support China in developing an effective and efficient nationwide emissions trading system that contributes to implementing the Chinese climate objectives," he added.

The start of the carbon market came as China's latest effort in realizing its goals of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060.

Carbon emissions by more than 2,000 power companies involved in the first trading group are estimated to exceed 4 billion tonnes per year, making the market the world's largest in terms of the amount of greenhouse gas emissions covered.